Stock Splits to Ease Scarcity of Baroda, UCL Shares

Posted to the web 24 July 2008 Walter Wafula Kampala Shareholders in Uganda Clays Limited and Bank of Baroda are discussing how to reduce the prices at which their shares can be sold to the public. Both companies are planning to execute stock splits at the Uganda Securities Exchange, where shares are traded, before the end of the year. A stock split is a corporate action in which a company's existing shares are divided into multiple shares to increase their number but maintain their value. The impending splits are set to ease the scarcity of high value shares at the Exchange, stockbrokers have said. The ease will facilitate the fast exchange of both Uganda Clays Limited (UCL) and Bank of Baroda Uganda (BOBU) shares, between sellers and buyers because of affordable pricing, at the stock market. The two firms' shares are the... [read full story]